The Limited to close remaining retail stores by Sunday

Ohio-based women's clothing retailer The Limited announced it
will be closing its remaining physical retail stores by Sunday while
continuing to sell its inventory online. Its remaining inventory online
and in stores will be discounted at least 50 percent but all sales will
be final.Screen capture/ABC 15 Arizona/AOL

Women's
clothing retailer Limited Stores LLC has announced it will be closing
the remainder of its approximately 200 brick-and-mortar stores by
Sunday.

"We're sad to say that all The Limited stores
nationwide have officially closed their doors," the message stated. "But
this isn't goodbye. The styles you love are still available online -
We're just a quick click away 24 hours a day."

The company will sell the remainder of its
merchandise at a 50 percent discount through the online store, but will
no longer accept returns, The Plain Dealer reported.

The company filed a notice with the Ohio
Department of Job and Family Services on Nov. 28 indicating it was
considering layoffs permanently cutting all 248 jobs at its headquarters
beginning Dec. 2.

Interim CEO John Buell left the company for a
job at Altar'd State on Dec. 16. After failing to find a buyer the
company began drastically lowering prices and informing employees they
would lose their jobs.

"While the company would have preferred to
give earlier notice, the events precipitating this announcement have
occurred so recently and suddenly that providing earlier notice was not
feasible and would have undermined the company's efforts described
above," The Limited said. "We are extremely grateful for the service you
have given to the company and deeply regret that current economic
conditions require this action to be taken."

Liz Dunn, with the consulting firm Talmage Advisors, told the Washington Post that The Limited failed to keep up with trends and meet the needs of modern retail shoppers.

She said shoppers are "looking for really fast
fashion, for things that are hyper-relevant to what's going on in
fashion right now — and as inexpensive as possible."

The Limited to close remaining retail stores by Sunday
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